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Sir Richard Charles Nicholas Branson (born 18 July 1950) is an English business magnate, best known for his Virgin Group of over 400 companies.

His first successful business venture was a magazine called Student at age 16. In 1970, he set up an audio record mail-order business. In 1972, he opened a chain of record stores, Virgin Records, later known as Virgin Megastores. Branson's Virgin brand grew rapidly during the 1980s—as he set up Virgin Atlantic Airways and expanded the Virgin Records music label.

Richard Branson is the 5th richest person in the United Kingdom and 254th in the world according to Forbes' 2011 list of billionaires, with an estimated net worth of approximately £2.58 billion (US$4.2 billion).

Career

Branson started his record business from the crypt of a church where he ran The Student. Branson advertised popular records in The Student Magazine and it was an over night success. Trading under the name "Virgin", he sold records for considerably less than the "High Street" outlets, especially the chain W. H. Smith. The name "Virgin" was suggested by one of Branson's early employees because they were all new at business. At the time, many products were sold under restrictive marketing agreements that limited discounting, despite efforts in the 1950s and 1960s to limit so-called resale price maintenance. In effect, Branson began the series of changes that led to large-scale discounting of recorded music.

Branson eventually started a record shop in Oxford Street in London. In 1971, Branson was questioned in connection with the selling of records in Virgin stores that had been declared export stock. The matter was never brought before a court and Branson agreed to repay any unpaid tax and a fine. Branson's mother Eve re-mortgaged the family home to help pay the settlement.

Earning enough money from his record store, Branson in 1972 launched the record label Virgin Records with Nik Powell and bought a country estate, in which he installed a recording studio. He leased out studio time to fledgling artists, including multi-instrumentalist Mike Oldfield, whose debut album Tubular Bells (1973) was Virgin Records' first release and a chart-topping best-seller.

Virgin signed such controversial bands as the Sex Pistols, which other companies were reluctant to sign. It also won praise for exposing the public to such obscure avant-garde music as Faust and Can. Virgin Records also introduced Culture Club to the music world. In the early 1980s, Virgin purchased the gay nightclub Heaven. In 1991, in a consortium with David Frost, Richard Branson had made the unsuccessful bid for three ITV franchisees under the CPV-TV name. The early 1980s also saw his only attempt as a producer—on the novelty record "Baa, Baa, Black Sheep", by Singing Sheep in association with Doug McLean and Grace McDonald. The recording was a series of sheep baaing along to a drum machine produced track and even made the charts at number 42 in 1982.

In 1992, to keep his airline company afloat, Branson sold the Virgin label to EMI for £500 million. Branson says that he wept when the sale was completed since the record business had been the birth of the Virgin Empire. He later formed V2 Records to re-enter the music business.

My interest in life comes from setting myself huge, apparently unachievable challenges and trying to rise above them...from the perspective of wanting to live life to the full, I felt that I had to attempt it.

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Another quote from him: "For me business is not about wearing suits, or keeping stockholders pleased. It's about being true to yourself, your ideas and focusing on the essentials"

In 1993, Branson took what many saw as being one of his riskier business exploits by entering into the railway business. Virgin Trains won the franchises for the former IntercityWest Coast and Cross-Country sectors of British Rail.

After the so-called campaign of "dirty tricks", British Airways settled the case, giving £500,000 to Branson and a further £110,000 to his airline and had to pay legal fees of up to £3 million. Branson divided his compensation (the so-called "BA bonus") among his staff.

Branson's next venture with the Virgin group is Virgin Fuels, which is set to respond to global warming and exploit the recent spike in fuel costs by offering a revolutionary, cheaper fuel for automobiles and, in the near future, aircraft. Branson has stated that he was formerly a global warming sceptic and was influenced in his decision by a breakfast meeting with Al Gore.

Branson has been tagged as a "transformational leader" in the management lexicon, with his maverick strategies and his stress on the Virgin Group as an organisation driven on informality and information, one that is bottom-heavy rather than strangled by top-level management.

On 21 September 2006, Branson pledged to invest the profits of Virgin Atlantic and Virgin Trains in research for environmentally friendly fuels. The investment is estimated to be worth $3 billion.

On 4 July 2006, Branson sold his Virgin Mobile company to UK cable TV, broadband, and telephone company NTL/NTL:Telewest for almost £1 billion. As part of the sale, the company pays a minimum of £8.5 million per year to use the Virgin name and Branson became the company's largest shareholder.[citation needed] The new company was launched with much fanfare and publicity on 8 February 2007, under the name Virgin Media. The decision to merge his Virgin Media Company with NTL was in order to integrate both of the companies' compatible parts of commerce. Branson used to own three quarters of Virgin Mobile, whereas now he owns 15 percent of the new Virgin Media company.

In June 2006, a tip-off from Virgin Atlantic led US and UK competition authorities to investigate price-fixing attempts between Virgin Atlantic and British Airways. In August 2007, British Airways was fined £271 million over the allegations. Virgin Atlantic was given immunity for tipping off the authorities and received no fine—a controversial decision the Office of Fair Trading defended as being in the public interest.

On 9 February 2007, Branson announced the setting up of a new Global science and technology prize—The Virgin Earth Challenge—in the belief that history has shown that prizes of this nature encourage technological advancements for the good of mankind. The Virgin Earth Challenge will award $25 million to the individual or group who are able to demonstrate a commercially viable design which will result in the net removal of anthropogenic, atmospheric greenhouse gases each year for at least ten years without countervailing harmful effects. This removal must have long-term effects and contribute materially to the stability of the Earth's climate.

Branson also announced that he would be joined in the adjudication of the Prize by a panel of five judges, all world authorities in their respective fields: Al Gore, Sir Crispin Tickell, Tim Flannery, James E. Hansen, and James Lovelock. The panel of judges will be assisted in their deliberations by The Climate Group and Special Advisor to The Virgin Earth Prize Judges, Steve Howard.

Richard Branson got involved with football when he sponsored Nuneaton Borough for their January 2006 FA Cup 3rd round game against Middlesbrough. The game ended 1–1, and the Virgin brand was also on Nuneaton Borough's shirts for the replay which they eventually lost 2–5.

In August 2007, Branson announced that he bought a 20 percent stake in Malaysia's AirAsia X.

On 13 October 2007, Branson's Virgin Group sought to add Northern Rock to its empire after submitting an offer that would result in Branson personally owning 30% of the company, changing the company's name from Northern Rock to Virgin Money. The Daily Mail ran a campaign against his bid and Liberal Democrats' financial spokesperson Vince Cable suggested in the House of Commons that Branson's criminal conviction for tax evasion might be felt by some as a good enough reason not to trust him with public money .

On 10 January 2008, Branson's Virgin Healthcare announced that it would open a chain of health care clinics that would offer conventional medical care alongside homoeopathic and complementary therapies. The Financial Times reported that Ben Bradshaw, UK's health minister, welcomed the launch. "I am pleased that Virgin Healthcare is proposing to work with GPs to help develop more integrated services for patients."

Plans where GPs could be paid for referring National Health Service (NHS) patients to private Virgin services were abandoned in June 2008. The BMA warned the plan would "damage clinical objectivity", there would be a financial incentive for GPs to push patients towards the Virgin services at the centre. Plans to take over an NHS Practice in Swindon were subsequently abandoned in late September 2008.

In February 2009, Branson's Virgin organisation were reported as bidding to buy the former Honda Formula One team. Branson later stated an interest in Formula One but claimed that, before the Virgin brand became involved with Honda or any other team, Formula One would have to develop a more economically efficient and environmentally responsible image. At the start of the 2009 formula one season on 28 March, it was announced that Virgin would be sponsoring the new Brawn GP team., with discussions also under way about introducing a less "dirty" fuel in the medium term. After the end of the season and the subsequent purchase of Brawn GP by Mercedes, Branson invested in an 80% buyout of Manor Grand Prix with the team being renamed to Virgin Racing.

Branson and Tony Fernandes, owner of Air Asia and Lotus F1 Racing, had a bet for the 2010 F1 season where the team's boss should work on the winner's airline for a day dressed as a stewardess. Fernandes escaped as the winner of the bet, as Lotus Racing ended 10th in the championship, while Virgin Racing ended 12th and last.

Branson's Ninety Acres Culinary Center in New Jersey will open in December 2009 with a restaurant run by chef David Felton, cooking school, wine school and working farm. The culinary center is the first phase to turn Natirar, the King of Morocco’s former estate, into a luxury resort, spa and culinary center.

In 2010 Richard Branson became patron of the UK's Gordon Bennett 2010 gas balloon race, which has 16 hydrogen balloons flying across Europe.

In April 2010 Branson described the closure of large parts of European airspace owing to volcanic ash as "beyond a joke". Scientists later concluded that serious structural damage to aircraft could have occurred if passenger planes had continued to fly.

World record attempts

Richard Branson made several world record-breaking attempts after 1985, when in the spirit of the Blue Riband he attempted the fastest Atlantic Ocean crossing. His first attempt in the "Virgin Atlantic Challenger" led to the boat capsizing in British waters and a rescue by RAF helicopter, which received wide media coverage. Some newspapers called for Branson to reimburse the government for the rescue cost. In 1986, in his "Virgin Atlantic Challenger II", with sailing expert Daniel McCarthy, he beat the record by two hours. A year later his hot air balloon "Virgin Atlantic Flyer" crossed the Atlantic. With its 2,300,000 cubic feet (65,000 m3), this was the largest hot-air balloon, and the first to cross the Atlantic.

In January 1991, Branson crossed the Pacific from Japan to Arctic Canada, 6,700 miles (10,800 km), in a balloon of 2,600,000 cubic feet (74,000 m3). This broke the record, with a speed of 245 miles per hour (394 km/h).

In September 2008 Branson and his children made an unsuccessful attempt at an Eastbound record crossing of the Atlantic ocean under sail in the 99 feet (30 m) sloopVirgin Money. The boat, also known as Speedboat, is owned by NYYC member Alex Jackson, who was a co-skipper on this passage, with Branson and Mike Sanderson. After 2 days, 4 hours, winds of force 7 to 9 (strong gale), and seas of 40 feet (12 m), a 'monster wave' destroyed the spinnaker, washed a ten-man life raft overboard and severely ripped the mainsail. She eventually continued to St. George's, Bermuda. In March 2010 Richard tried for the world record of putting a round of golf in the dark at the Black Light Mini Golf in The Docklands, Melbourne, Australia. He succeeded in getting 41 on the par 45 course.

He has a cameo appearance in several films: Around the World in 80 Days (2004), where he played a hot-air balloon operator; Superman Returns, where he was credited as a 'Shuttle Engineer' and appeared alongside his son, Sam, with a Virgin Galactic-style commercial suborbital shuttle at the centre of his storyline. He also has a cameo in the James Bond film Casino Royale. Here, he is seen as a passenger going through Miami Airport security check-in and being frisked – several Virgin Atlantic planes appear soon after. British Airways edited out Branson's cameo in their in-flight screening of the movie.

He makes a number of brief and disjointed appearances in the cult classic documentary Derek and Clive Get the Horn which follows the exploits of Peter Cook and Dudley Moore recording their last comedy album. Branson and his mother were also featured in the documentary film, Lemonade Stories. In early 2006 on Rove Live, Rove McManus and Sir Richard pushed each other into a swimming pool fully clothed live on TV during a "Live at your house" episode.

Branson is a Star Trek fan and named his new spaceship VSS Enterprise in honour of the famous Star Trek ships, and in 2006, offered actor William Shatner a free ride on the inaugural space launch of Virgin Galactic. In an interview in Time magazine, 10 August 2009, Shatner claims that Branson approached him asking how much he would pay for a ride on the spaceship. In response, Shatner asked "how much would you pay me to do it?"

In August 2007, Branson announced on The Colbert Report that he had named a new aircraft Air Colbert. He later doused political satirist and talk show host Stephen Colbert with water from his mug. Branson subsequently took a retaliatory splash from Colbert. The interview quickly ended, with both laughing as shown on the episode aired on Comedy Central on 22 August 2007. The interview was promoted on The Report as the Colbert-Branson Interview Trainwreck. Branson then made a cameo appearance on The Soup playing an intern working under Joel McHale who had been warned against getting into water fights with Stephen Colbert, and being subsequently fired.

In July 2010, Branson narrated Australian sailor Jessica Watson's documentary about her solo sailing trip around the world. It premiered on ONEHD on 16 August 2010.

In April 2011 Branson appeared on CNN's Mainsail with Kate Winslet. Together they reenacted a famous scene from the 1997 film Titanic for the cameras. On August 17, 2011, he was featured in the premier episode of Hulu's first long-form original production entitled, A Day in the Life.

Activism

Humanitarian initiatives

In the late 1990s, Branson and musician Peter Gabriel discussed with Nelson Mandela their idea of a small, dedicated group of leaders, working objectively and without any vested personal interest to solve difficult global conflicts.

Desmond Tutu serves as the chair of The Elders—who will use their collective skills to catalyse peaceful resolutions to long-standing conflicts, articulate new approaches to global issues that are causing or may cause immense human suffering, and share wisdom by helping to connect voices all over the world. They will work together over the next several months to carefully consider which specific issues they will approach.

Branson's other work in South Africa includes the Branson School of Entrepreneurship, set up in 2005 as a partnership between Virgin Unite, the non-profit foundation of Virgin, and entrepreneur Taddy Bletcher, the founder of CIDA City Campus, a university in Johannesburg. The school aims to improve economic growth in South Africa by supporting start-ups and micro-enterprises with skills, mentors, services, networks and finance arrangements. Fundraising activity to support the school is notably achieved by the Sunday Times Fast Track 100, sponsored by Virgin Group, at its yearly event, where places to join Richard Branson on trips to South Africa to provide coaching and mentoring to students are auctioned to attendees. In 2009, Jason Luckhurst and Boyd Kershaw of Practicus, Martin Ainscough of the Ainscough Group and Matthew Riley of Daisy Communications helped raise £150,000 through the auction.

In September 2007, Richard Branson chaired the jury of the first Picnic Green Challenge, a €500,000 award for best new green initiative, set up by the Dutch "Postcode Loterij" (postcode lottery) and the PICNIC Network of creative professionals. The first Green Challenge was won by Qurrent with the Qbox.

Branson was the first celebrity guest for the popular charity fund raisers, Reserve Dinners, raising over $75,000 in one evening towards his Virgin Unite charity.

In March 2008, Richard Branson hosted an environmental gathering at his private island, Necker Island, in the Caribbean with several prominent entrepreneurs, celebrities, and world leaders. They discussed global warming-related problems facing the world, hoping that this meeting will be a precursor to many more future discussions regarding similar problems. Former British Prime Minister Tony Blair, Wikipedia co-founder Jimmy Wales, and Larry Page of Google were in attendance.

On 8 May 2009, Branson took over Mia Farrow's hunger strike in protest of the Sudanese government expulsion of aid groups from the Darfur region. He concluded his scheduled 3-day fast on 11 May. Later that year, he joined the project Soldiers of Peace, a movie against all wars and for a global peace.

Richard Branson is a signatory of Global Zero (campaign), a non-profit international initiative for the elimination of all nuclear weapons worldwide. Since its launch in Paris in December 2008, Global Zero (campaign) has grown to 300 leaders, including current and former heads of state, national security officials and military commanders, and 400,000 citizens worldwide; developed a practical step-by-step plan to eliminate nuclear weapons; launched an international student campaign with 75 campus chapters in eight countries; and produced an acclaimed documentary film, Countdown to Zero, in partnership with Lawrence Bender and Participant Media.

In 2011, Branson served on the Global Commission on Drug Policy with former political and cultural leaders of Latin America and elsewhere, "in a bid to boost the effort to achieve more humane and rational drug laws."

Politics

In the 1980s, he was briefly given the post of "litter Tsar" by Margaret Thatcher—charged with "keeping Britain tidy". He was again seen as close to the government when the Labour Party came to power in 1997. In 2005 he declared that there were only negligible differences between the two main parties on economic matters. He has frequently been mentioned as a candidate for Mayor of London, and polls have suggested he would be a viable candidate, though he has yet to express interest.

Business practices

Branson's business empire is owned by a complicated series of offshore trusts and companies. The Sunday Times stated that his wealth is calculated at £3.065 billion; if he were to retire to his Caribbean island and liquidate all of this he would pay relatively little in tax.

Branson appears at No. 85 on the 2002 list of "100 Greatest Britons" (sponsored by the BBC and voted for by the public). Sir Richard also ranks No. 86 on Channel 4's 2003 list of "100 Worst Britons". Sir Richard was also ranked in 2007's Time Magazine "Top 100 Most Influential People in the World". In 2009, Branson was voted the UK's "Celebrity Dream Boss" in an opinion poll by Cancer Research UK.

Personal life

Branson is the eldest of four siblings. He has two sisters, Andrea and Vanessa Branson. His brother, Tom, followed in their father's footsteps and became a barrister. Branson's poor academic records contrasted with excellent performance in sports, especially swimming.

With his wife Joan Templeman he has a daughter Holly (b. 1981) and son Sam (b. 1985). He stated in an interview with Piers Morgan that he and wife Joan had a daughter named Clare Sarah who died when she was just four days old in 1979. The couple wed—at their daughter Holly's suggestion when she was eight years old—in 1989 at Necker Island, a 74-acre (30 ha) island in the British Virgin Islands that Branson owns. He also owns land on the Caribbean Islands of Antigua and Barbuda. Holly Branson is now a doctor and is a keen supporter of the football team Oxford United.

In 1998, Branson released his autobiography, titled Losing My Virginity, an international bestseller.

Branson was deeply saddened by the disappearance of fellow adventurer Steve Fossett in September 2007; and, the following month, he wrote an article for Time magazine, titled "My Friend, Steve Fossett".

Influences

Branson has stated in a number of interviews that he derives much influence from non-fiction books. He most commonly names Nelson Mandela's autobiography, Long Walk to Freedom, explaining that Mandela is "one of the most inspiring men I have ever met and had the honour to call my friend." Owing to his interest in humanitarian and ecological issues, Branson also lists Al Gore's best-selling book, An Inconvenient Truth and The Revenge of Gaia by James Lovelock amongst his favourites. According to Branson's own book, Screw It, Let's do It. Lessons in Life, he is also a huge fan of works by Jung Chang.